Medical Device Reprocessing Market to Perceive Highest CAGR of 17.10% by Forecast 2030

Data Bridge Market Research completed a qualitative study titled Medical Device Reprocessing Market with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. The most up-to-date technology was used in conjunction with expert industry knowledge and practical, effective, and innovative solutions to develop this Medical Device Reprocessing report. Market penetration-increasing tactics such as new product releases, geographical expansion, agreements, joint ventures, partnerships, and acquisitions are discussed. This study of the Medical Device Reprocessing market focuses on numerous submarkets that are anticipated to grow rapidly in terms of revenue throughout the study's approximate forecast time frame. The report's research, analysis, and insights give you a clear picture of the market from which to make informed business decisions.

Electronic data is a rapidly developing adoption in the healthcare IT market. EHR databases and software offer rich resources to enhance precision medicine development. As per the NCHS (National Center for Health Statistics) at the CDC (Center for Disease Control and Prevention), U.S., the EHR adoption by primary care physicians surged from 72.1% in 2013 to 78.6% in 2014, witnessing an increase of 6.5%. All these softwares can be reused without any interruption and is thus helping in market enhancement. Furthermore, the COVID-19 pandemic increased the demand for medical device connections, which boosted the growth and expansion of the market in the future.

Data Bridge Market Research analyses that the medical device reprocessing market, which was USD 3,599.7 million in 2022, would rise to USD 12,726.91 million by 2030 and is expected to undergo a CAGR of 17.10% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Opportunities

Increasing Prevalence of Deep Vein Thrombosis
The high prevalence of diseases such as deep vein thrombosis and pulmonary embolism is anticipated to increase. For instance, according to the June 2022 update of the Centers for Disease Control and Prevalence, deep vein thrombosis (DVT) and pulmonary embolism (PE) may affect as many as 900,000 people annually in the U.S. Still, the accurate number of victims is unknown. Therefore, medical devices are anticipated to grow due to the growing demand for medical devices. Thus, this factor boosts market growth.

Growing Demand for Reprocessing Medical Devices
The growing demand for reprocessing medical devices will boost the market growth. For instance, Medline Industries, Inc. stated that its Medline ReNewal medical device reprocessing division achieved a milestone after successfully gaining 5.3 million medical devices for reprocessing in 2021, collecting more than a million pounds of waste from the landfills. Thus, these factors are increasing the market growth.

Segmentation:

The medical device reprocessing market is segmented on the basis of type, product and service, process, devices type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Enzymatic
Non-Enzymatic Detergent
Product and Services

Reprocessing Support and Services
Reprocessed Medical Devices
Process

Presoak
Manual Cleaning
Automatic Cleaning
Disinfection
Devices Type

Critical Devices
Semi-Critical Devices
Non-Critical Devices
Application

Devices
Accessories
End User

Hospitals, Clinics
Home Healthcare
Diagnostic Centers
Manufacturers
Ambulatory Surgical Centers
Others

Key Market Players:

Stryker (U.S.)
Cardinal Health (U.S.)
Johnson & Johnson Private Limited (U.S.)
Baxter (U.S.)
3M (U.S.)
Cantel Medical (U.S.)
STERIS (U.S.)
EverX (U.S.)
Vanguard AG (U.S.)
Avante Health Solutions (U.S.)
SteriPro (Canada)
Getinge AB (Sweden)
SureTek Medical (U.S.)
SOMA TECH INTL (U.S.)
Olympus Corporation (Japan)
Medtronic (Ireland)
Pioneer Medical Devices AG (Germany)

Key Questions Answered

What impact does COVID-19 have made on Global Medical Device Reprocessing Market Growth & Sizing?
Who are the Leading key players and what are their Key Business plans in the Global Medical Device Reprocessing Market?
What are the key concerns of the five forces analysis of the Global Medical Device Reprocessing Market?
What are different prospects and threats faced by the dealers in the Global Medical Device Reprocessing Market?
What are the strengths and weaknesses of the key vendors?

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